RPI, Eli Lilly to Collaborate on Ribozyme Development

Ribozyme Pharmaceuticals Inc. (RPI; Boulder, CO) and Eli Lilly and Company (Indianapolis, IN) have signed an agreement to collaborate on the research, development and commercialization of ribozymes for the treatment of hepatitis C virus (HCV) infection.

Under the terms of the agreement, RPI will receive $9.2 million in 1999, which includes initial fees, funding for research, funding for clinical trial materials and an equity investment. RPI could eventually receive up to $38 million principally made up of contingent milestone payments, not including royalties on sales. RPI could also realize increased revenues from product manufacturing and research. Lilly will receive the exclusive worldwide commercialization rights to products that result from this collaboration.

Infection with hepatitis C virus (HCV), an RNA virus, can lead to cirrhosis, hepatocellular carcinoma, liver failure and death. Currently, 175 million people worldwide are afflicted with the virus

Eli Lilly Company is a research-based pharmaceutical corporation.

Ribozyme Pharmaceuticals develops human ribozyme therapies for diseases caused by the overproduction of damaging proteins.

For more information: Ralph Christoffersen, Chief Executive Officer and President, Ribozyme Pharmaceuticals Inc., 2950 Wilderness Place, Boulder, CO 80301. Tel: 303-449-6500. Fax: 303-449-6995. Email: bullocl@rpi.com.